French major Total announced $8.1bn asset impairments in advance of its Q2 results on 30 July. The key write-down was $7bn on Canadian oil sands.

“In line with” Total’s climate policy “which aims at carbon neutrality” by 2050 “Total has reviewed its oil assets that can be qualified as ‘stranded’, meaning with reserves beyond 20 years and high production costs, whose overall reserves may therefore not be produced by 2050.” (CONTINUED - 363 WORDS)